02 October 2010

Tax Audit Limit Alert

Seeking Data on Tax Audit from CBDT: We have sent a letter of request to the Central Board of Direct Taxes (CBDT) asking them to provide the number of tax audit reports filed with them during 2009-10, e.g. data on tax audit based on fields like name and membership number of the auditor, assessment year, PAN of the auditee, etc., which would enable us to review the ceiling on the number of tax audit assignments that a chartered accountant can accept in a financial year, either as a partner or a proprietor.
 
 
(Source : ICAI Journal-Oct,2010


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Best Wishes

CA. V.M.V.SUBBA RAO
Chartered Accountant
Door No.24-2-1885,
I Floor, Flat No.5,
Siddivinayaka Residency, I Cross,
Central Avenue, MSR Nagar,
Magunta Layout,
Nellore-524 003
Andhra Pradesh
India
Mobile:+91 - 0 9390221100
           +91 - 0 9440278412
e-Mail: vmvsr@rediffmail.com
           vmvsr@yahoo.co.uk
http://pdicai.org/MyPage/203038.aspx

4 comments:

  1. Anonymous11:53 AM

    The members have neither been informed about the outcome of this exercise till date nor have been informed about any follow up action.

    ReplyDelete
  2. Anonymous11:56 AM

    Either the present limit of 45 audits should be abolished or the limit should strictly enforced with proper checks on members.

    ReplyDelete
  3. LIMIT OF AUDIT OF 45 SHOULD BE INCREASED AND SHOULD BE BASED ON TURNOVER OF THE ASSESEE SAY LESS THAN 1 CRORE TURNOVER 100, BETWEEN 1 TO 5 50, 5 TO 10 25, ABOVE 10 CREORE 20 CLIENTS BECAUSE A FIRM HAVING TURNOVER OF SAY 2500 CRORE AND HAVING 5 CRORE CANNOT BE TREATED SAME FROM THE TAX AUDIT POINT OF VIEW.

    ReplyDelete
  4. IN MY OPINION TAX AUDIT ALLOTEMENT SHOULD BE MADE CENTRALISED AT ICAI LEVAL LIKE BANK AUDITS AND CAG

    ReplyDelete

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